YouTube in talks to buy Next New Networks - report

News Broadband United States 16 DEC 2010
YouTube in talks to buy Next New Networks - report
YouTube is in talks to buy Next New Networks, a web video production company, the New York Times reported, citing two people briefed on the discussions. The acquisition would be YouTube's first major foray into producing original content, showing its growing focus on offering professional videos rather than just short clips by amateurs. YouTube and Next New Networks have not yet signed an agreement. The people who were briefed, but who were not authorized to speak publicly, would not disclose the proposed price. Both companies declined to comment. As companies like Hulu and Netflix offer more shows and videos online, and as Google tries to lure people to watch YouTube on their televisions through its Google TV software, YouTube is increasingly focused on providing professional content and figuring out how to attract audiences and advertisers to the programming. Next New Networks, a start-up based in New York, was founded in 2007 to create original web television shows, and has had success with series like "Barely Political" and "Indy Mogul."

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